Print Edition - 2017-04-14  |  Sports Digest

AC Milan sale complete, finally

- Reuters, MILAN

Apr 14, 2017-

Italian former Prime Minister Silvio Berlusconi finalised his troubled sale of football club AC Milan to a Chinese-led consortium on Thursday, a 740-million-euro ($788 million) deal that tightens China’s grip on the game in Italy. The deal, the biggest Chinese investment in a European club, follows retail giant Suning Commerce Group’s purchase of Milan rival Internazionale FC last year. A Chinese firm also underwrites the media rights to the top league, Serie A. In a statement, Berlusconi’s family holding Fininvest said it had sold its entire 99.93 percent stake in the club to Luxembourg-based Rossoneri Sport Investment Lux, the company that replaced the original Chinese bid vehicle.

Published: 14-04-2017 09:55

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